Archive 2013

//Archive 2013

High Spirits at Skansi

Click here to view PDF… Social responsibility and cultural values are central to Skansi Offshore’s strategy as the company takes delivery of its fifth new platform support vessel, with contracts for all vessels secured from major North Sea operators. Skansi Offshore has been a remarkable story since its inception a few years ago. With the company’s first platform support vessel (PSV) delivered in 2009, and the fifth early this summer (2013), the pace of development has been high, especially in the last couple of years — the Saeborg came in September 2011, the Sjoborg in March 2012, and the Torsborg in June 2012. These PSVs are state-of-the-art vessels built to the highest specifications, with all of them except the latest one originally ordered by Skansi Offshore (earlier known as Supply Service). […]

November 14th, 2013|Archive 2013|0 Comments

ASB: Raising the Stakes

Click here to view PDF… To enhance its services to the offshore oil and gas industry, Atlantic Supply Base, in a ‘major step’ for itself as a company, implements an OGP compliant system for quality, health, safety and environmental (QHSE) management. As the drilling of the eighth exploration well in the Faroese continental shelf is expected to resume this summer (2013), Atlantic Supply Base (ASB) looks poised to retain its position as preferred provider of related port services. The company, nested in the well sheltered Port of Runavík, has sharpened its quality, health, safety, and environmental (QHSE) management through the implementation of an integrated system that includes corrective action and key performance indicators reporting. According to managing director Eli Lassen, the new QHSE management system — based on specifications from the International Association of Oil and Gas Producers (OGP) — has taken ASB more than a year to develop, with its implementation representing a milestone in the business development of the company. […]

November 14th, 2013|Archive 2013|0 Comments

New Vessels for Thor in Largest Deal to Date

Click here to view PDF… In its most major deal to date, Thor signs a long-term charter contract with Norway’s PGS — in the process ordering four new seismic support vessels with the option of adding another four new builds to the contract. Faroese shipping company Thor is seeing its international business grow at accelerating pace as it speeds up the renewal of its fleet of offshore vessels for a long-term charter contract signed with Petroleum Geo-Services (PGS) in Thor’s largest business deal to date. Meanwhile the company has expanded its management and fulfillment service and is now operating and manning a fleet of vessels for foreign shipowners, out of its head offices at Hósvík, Faroe Islands. […]

November 14th, 2013|Archive 2013|0 Comments

Atlantic Petroleum Continues to Deliver

Click here to view PDF… With revenues approaching 600 million dkk (80 m eur), Atlantic Petroleum had its best year ever in 2012, increasing profits, production rate, development assets, and exploration acreage — and delivering on its stated growth strategy. It was an upbeat message that came from Ben Arabo, the CEO of Atlantic Petroleum, as he presented the company’s Annual and Consolidated Report and Accounts 2012. A record breaking year that went beyond expectation in everything from production to financial performance with revenues growing from 435 million to just under 600 m dkk (80 m eur), 2012 saw higher production performance, increased development assets, increased reserves and resources, geographical expansion, and more exploration acreage added to secure future income streams. Likewise, reserves were reevaluated to higher levels, effectively prolonging the lifetime of production asset Chestnut. “It’s very good news all over,” Mr. Arabo said. […]

November 14th, 2013|Archive 2013|0 Comments

FOÍB Makes Its Mark

Click here to view PDF… With Jan Müller at the helm, the Faroes Oil Industry Group strengthens its ties with key stakeholders — discussing the future of Faroes oil and gas exploration at a Tórshavn conference on 4 June. The Managing Director of the Faroes Oil Industry Group (FOÍB) Jan Müller is a man on a mission. Since taking up his present post less than two years ago as part of a major restructuring of the organization he has worked tirelessly to promote the oil and gas industry in the Faroes. One very visible result of his efforts is the creation of the popular website www.oljan.fo with news and interviews from the industry. FOÍB represents the oil companies with licenses in Faroese territory. Its main objective is to promote their interests. But in assessing how this can best be achieved they have recognized the need for a higher profile and a more proactive role in promoting oil exploration and the development of the industry in the Faroes. […]

November 14th, 2013|Archive 2013|0 Comments

Marine Repairs: Exceeding Expectations

Click here to view PDF… Owners and operators of marine vessels and offshore rigs are astonished at what they get from providers in the Faroe Islands — such as MEST, the shipyard and engineering company that is also a stainless steel equipment manufacturer. Nobody would blame the uninitiated for assuming that in the Faroe Islands not much can possibly be found in the way of industrial services and manufacturing — certainly, nobody would contest that the size of the population in that windswept archipelago in the middle of the North Atlantic is absolutely minimal. They would, however, be in for a big surprise. […]

November 14th, 2013|Archive 2013|0 Comments

Runavík Makes Room for Major Works

Click here to view PDF… The Port of Runavík prepares what is to become by far the largest harbor development project ever to be carried out in the Faroe Islands — a 500,000 square meter oil supply base and a 200,000m2 container storage area. The Port of Runavík has advanced plans to create a 124.6-acre (500,000m2) offshore supply base along with a large container dock. Considering the normal scale of things in the Faroe Islands, this is a gigantic plan that would catapult the area — indeed the whole country — into an entirely new reality. It would imply, for one thing, a significant presence of the oil and gas industry in the islands. For another, it would position the Port of Runavík squarely as the Faroes’ undisputed hub for the offshore business. […]

November 14th, 2013|Archive 2013|0 Comments

Tvøroyri’s Pelagic Booster

Click here to view PDF… The Port of Tvøroyri is experiencing rapid growth after the new Varðin Pelagic fish factory opened for business in July 2012 — with remarkable effect on employment and economy in the local and surrounding communities. It took only a few weeks to set up and ready one of the world’s most advanced processing plants for pelagic food fish. The change has been profound, however, for the Port of Tvøroyri since the Varðin Pelagic facility, in the summer of 2012, started commercial operations at the main fishing harbor there. At year end, the new factory had processed 37,000 tonnes of mackerel, herring, and blue whiting — a figure that is expected to double this year (2013). […]

November 14th, 2013|Archive 2013|0 Comments

Busy As Never Before

Click here to view PDF… With the Faroese transport infrastructure under pressure from rising export volumes, Faroe Agency’s position of market leadership in the ports and shipping sector is consolidated through more fisheries and insurance related business. These are times of capacity expansion in the Faroese ports, shipping and logistics industry. Driven by the current surge in pelagic fisheries, combined with public policy efforts to maximize utilization of marine resources, port authorities and businesses in key locations are scrambling to add dock space, enlarge container areas, extend cold storage facilities, and create new offerings. And with record levels of export sales in the aquaculture department, the situation is fueling optimism across most sectors. Since its founding, in 2004, Faroe Agency has been busy serving foreign vessels calling at Faroese ports. From the outset, Russian trawlers and freighters represented most of the clientele, and still do. Faroe Agency has two native Russian employees, agents Alexander Kuzkin and Sergey Lutov, both of whom are trilingual with fluency in Russian, English and Faroese. […]

November 14th, 2013|Archive 2013|0 Comments

Fuglafjørður Sticks to Plan on Freezing Factory

Click here to view PDF… While Fuglafjørður remains a leading port of call for the pelagic fishing fleet — offering the most comprehensive service for it in the Faroe Islands — the port authority continues to seek investors for a new freezing plant. The new mayor of Fuglafjørður, Sonni á Horni, appears confident that a freezing plant to produce pelagic fish for human consumption will eventually be set up in what remains one of the busiest pelagic ports in northern Europe. His optimism is shared by Rólant Højsted, harbormaster of the Port of Fuglafjørður, who agrees that such a facility “will come sooner or later,” regardless of the blow received a couple of years ago when such a processing plant, originally intended for Fuglafjørður, ended up elsewhere. The Port of Fuglafjørður has long been the Faroe Islands’ undisputed hub for the pelagic fishing industry — a position built since the early 1960s when the Havsbrún fishmeal factory first opened for business. […]

November 14th, 2013|Archive 2013|0 Comments
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